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Retirement adjustments are sometimes necessary to correct prior or current reporting periods. This report can display all retirement adjustments that exist in the WA001RetTransactions table that have a source of ‘Adjust’.
When adjustments are entered, the client has a choice not to report the adjustment to the DRS and a choice to include the adjustment with contract balancing.
Not reporting an adjustment to DRS will affect the employee’s net pay and vendor payment amount, but the transaction will not be sent to DRS through the transmittal process. This technique may be useful when DRS rejects a transaction and the client wishes to reflect that rejection to the employee and the retirement history data.
If the client chooses to include adjustments in the contract balancing portion of the calculation, the adjustment will be applied to add or exempt values from the contract.
The client may select adjustments from specific retirement systems, plans, and earning periods, processed or unprocessed, and sort by name or by system/plan/employee name.
Adjustments may be viewed, downloaded to an Excel spreadsheet, or printed as a report.
Page Updated 12/09